XN000022-1988-01-11 — Page 9

MONDAY, JANUARY 11, 1988

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OK NEEDS INVESTMENTS WHICH WILL HELP UPGRADE HK PRODUCTS: FS

AN ASPECT OF THE INDUSTRY DEPARTMENT'S INWARD INVESTMENT PROMOTIONS WORK IS TO LOOK IN PARTICULAR FOR INVESTMENTS WHICH TEND TO UPGRADE THE QUALITY OF HONG KONG-PRODUCED GOODS, INCREASE THE RANGE OF PRODUCTS AND IMPROVE THE PRODUCTION PROCESSES, THE FINANCIAL

SECRETARY, MR PIERS JACOBS, SAID TODAY (MONDAY).

SPEAKING AT A LUNCHEON MEETING OF THE FRENCH BUSINESS ASSOCIATION, MR JACOBS SAID NEW INVESTMENTS SIMPLY TO CREATE JOBS OR BRING IN CAPITAL WERE NOT SO NEEDED SINCE HONG KONG HAD VIRTUALLY FULL EMPLOYMENT AND A LARGE AND SOPHISTICATED FINANCIAL SECTOR.

"WE ARE CONVINCED THAT ONLY THROUGH FURTHER ENHANCEMENT EFFORTS CAN HONG KONG CONTINUE то COMPETE WITH ITS REGIONAL NEIGHBOURS IN THE FUTURE."

KONG'S AND OVERSEAS

HE SAID ONE OF THE BEST WAYS TO UPGRADE HONG INDUSTRY WOULD BE THROUGH JOINT-VENTURES BETWEEN LOCAL FIRMS.

TO FACILITATE JOINT VENTURES, THE INDUSTRY MAINTAINS A REGISTER OF LOCAL FIRMS LOOKING FOR PARTNERS TO MATCH THEM WITH SUITABLE OVERSEAS COMPANIES.

DEPARTMENT

AND SEEKING

'DURING THE FOUR YEARS AND 10 MONTHS ΤΟ OCTOBER 1987, THE INDUSTRY DEPARTMENT ASSISTED 101 PROJECTS ΤΟ COMPLETION, ARE CURRENTLY ANOTHER 28 MANUFACTURING PROJECTS ALREADY ME JACOBS SAID.

AND THERE COMMITTED,

EFFORTS WERE ALSO MADE TO PROMOTE

MANUFACTURING

OPPORTUNITIES

IN HONG KONG.

STAFF IN HONG KONG THE RANGE OF AND PROVIDING

MR JACOBS SAID: "OVER THE PAST FEW YEARS, OUR FIELD EUROPE, JAPAN AND NORTH AMERICA HAVE BEEN BUSY PUBLICISING AS AN IDEAL OFFSHORE MANUFACTURING LOCATION, EXPANDING THEIR CONTACTS BY VISITS TO FAIRS AND MAIL CAMPAIGNS, WHATEVER ADVICE AND ASSISTANCE THEY COULD TO COMPANIES SHOWING SOME INTEREST IN SETTING UP A PLANT IN HONG KONG.

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HE POINTED OUT THAT THE ONE STOP UNIT OF THE INDUSTRY DEPARTMENT WAS TASKED TO LOOK AFTER POTENTIAL INVESTORS VISITING HONG KONG, ORGANISING FOR THEM PROGRAMMES OF VISITS AND ARRANGING MEETINGS WITH USEFUL CONTACTS IN GOVERNMENT AND PRIVATE-SECTOR ORGANISATIONS.

IT ALSO HELPED MANUFACTURERS

WHO DECIDED TO EXPAND THEIR

EXISTING HONG KONG OPERATIONS.

TALKING ABOUT THE BILATERAL TRADING RELATIONSHIP BETWEEN FRANCE AND HONG KONG, MR JACOBS SAID FRANCE WAS HONG KONG'S 11TH MAJOR TRADING PARTNER WITH TOTAL TRADE AMOUNTING TO $7.7 BILLION OVER THE FIRST NINE MONTHS OF 1987.

THE MUTUAL